Stocktwits Raises $3 million in Funding…A Win for Discovery and Filtering

We are happy to announce that StockTwits has closed a 3 million Series B financing round led by Foundry Group and returning investor True Ventures.

Since launching a year ago, we have been moving very quickly to build a real time financial media company amid a landscape of transformation within the industry.

If you’ve ever tagged a tweet with the $$ or tweeted a stock symbol using that $ tag you’ve participated in the StockTwits conversation. StockTwits uses the familiar Twitter microblogging format (140 characters) and allows users to seamlessly cross-post to and from their Twitter stream. Users can tag their Twitter posts with the $ tag to be picked up in StockTwits, can use the StockTwits web interface or download the StockTwits Desktop for even greater functionality. (we’d highly recommend the desktop client – you can get it here if you don’t already have it)

In addition to the Desktop, we have launched numerous network sites, and added many features which allow real people to better communicate their views on markets and to survey the views of others for actionable information. In the process, we have managed to tap into an astounding amount number of talented people who make up a growing, thriving StockTwits community. As well, we see huge opportunities in this space going forward and have specific plans to add features which will enhance the StockTwits experience in a big way.

With the additional funding, we will be able to execute on our strategy decisively.

Below is a bit more about where we are now and some hints about where we are heading.

Filtering, Curation and Discovery: The picture below shows The Suggested Options Stream. Here we have organized some of the very best options traders in one stream. The result is simply incredible information flow for those who are focusing on options. We will have much more of this curation and filtering process coming so whether your focus is a specific equity sector or grain futures, you will have best minds real time organized and at your fingertips.

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StockTwits TV: StockTwits TV has been an incredible addition to the StockTwits stream – providing video commentary from top traders and investors in real time. We will be upgrading technology and launching new, very original programming on January 4, 2010.

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Depth: We are and will continue to focus on helping our community drill down into data concerning a specific asset. Below is a shot from The StockTwits Desktop of an individual stock. Expect a level of real time granularity going forward that will knock your socks off.

pic3howard

Mobile: We plan to expand mobile presence in the near future. Nasdaq used our API to launch StockTwits streams in its Qfolio iPhone App, and this month we plan on releasing a Stocktwits native Blackberry App and other mobile apps for those trading on-the-go.

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I have been friends with the partners at Foundry Group for a long time. Seth Levine, who will be joining Tony Conrad and Roger Ehrenberg on our Board, had this to say about Foundry’s investment thesis:

“For us, StockTwits represents a unique opportunity to leverage the increasingly active conversation taking place on (and off) the Twitter platform around stocks and markets. We’ve witnessed in other investments the power of 3rd party networks driving the scale and reach of new businesses and we believe StockTwits represents a huge opportunity to harness the Twitter community’s ongoing conversation around stocks and investing.”

Only 10% of an iceberg sits above the water with 90% below the surface. StockTwits is similarly situated. You ain’t seen nothing yet!.

36 comments

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  10. Tom Labus says:

    Congrats on your round of financing. This whole “thing” has moved along so fast that I can't imagine what the platform will look like in another year.

    Go for it!!

  11. Jason Wood says:

    Fantastic news for all concerned. What you, Soren and Phil (and the rest of the team) are building has been nothing short of impressive. I've really enjoyed being involved with the process, even tangentially, and can't wait to see what this new capital does for the velocity of your development.

    All the best,

    Jason

  12. Anonymous says:

    Great job Howard. I wish Stocktwits will take over CNBC one day :-)
    Wish you all the best,
    Amit :-)

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  20. howardlindzon says:

    thx everybody. you are making this fun and a smart community. could not do it without everyone participating

  21. Tom Labus says:

    Congrats on your round of financing. This whole “thing” has moved along so fast that I can’t imagine what the platform will look like in another year.

    Go for it!!

  24. Jason Wood says:

    Fantastic news for all concerned. What you, Soren and Phil (and the rest of the team) are building has been nothing short of impressive. I’ve really enjoyed being involved with the process, even tangentially, and can’t wait to see what this new capital does for the velocity of your development.

    All the best,

    Jason

  26. Chris Selland says:

    what a tremendous validation of the power of StockTwits – with MUCH more to come – congrats

  27. ivanhoff says:

    Congrats! New all time high for ST. Too bad that a private equity bourse for start-ups doesn't exist yet. I'm sure CNBC would be buying part of ST to hedge.

  28. ivanhoff says:

    Congrats! New all time high for ST. Too bad that a private equity bourse for start-ups doesn’t exist yet. I’m sure CNBC would be buying part of ST to hedge.

  29. Joshua E Stone says:

    This is great, an example of how the internet is quietly and quickly changing the entire economy. Things like this are going on in other sectors like the film industry for example. Like the article says, ” You ain`t seen nothing yet!”

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  31. fxretracer says:

    This is great, an example of how the internet is quietly and quickly changing the entire economy. Things like this are going on in other sectors like the film industry for example. Like the article says, ” You ain`t seen nothing yet!”

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